MSE News: Base Rate 'to stay frozen until 2011'

Cleaver

nembot wrote: »

Haliblag and Nationlies

I find it really sweet that you've come up with these different names for Halifax and Nationwide.

1984ReturnsForReal_2

nollag2006 wrote: »

Hmmm ... a very selective interpretation

The BOE are predicting the current rise is temporary and the rate will drop off quickly

:T

When the price of gas & elec drop when we don't need so much.

stueyhants

HAMISH_MCTAVISH wrote: »

Actually not.

Didn't another thread today say that 75% of 60 year olds (the boomers) are mortgage free? And that number rises dramatically the older they get.

So actually it's really only the FTB's that bought in the last few years it's "saving"......

I'm guessing Graham actually means it's saving the boomers 'Asset' prices (i.e houses) for when they will need to cash them in to fund their retirement. IR rises are really the only threat left to the housing market recovery.

kriss_boy

Harry_Powell wrote: »

You've got to feel sorry for all those people who are trying to put together a deposit on a house. A combination of crappy interest rates on their savings and HPI is eroding their hopes to ever get onto the housing ladder.

lol. same old 'I'm alright jack' attitude from the comfortable, ruling classes.

Cant say I agree with that.

My girlfriend and I saved about 10 grand in 18months, both on only around 14/15K a year back then too.

Savings easy if you are willing to make sacrifices and houses are cheaper than ever.

An ideal FTB 1 bed flat was once 75K in my town but now theres many at fixed prices of 65-70K.

FTBs? Lucky b*ggers!

Graham_Devon

stueyhants wrote: »

I'm guessing Graham actually means it's saving the boomers 'Asset' prices (i.e houses) for when they will need to cash them in to fund their retirement. IR rises are really the only threat left to the housing market recovery.

Hamish is one dimensional on nearly everything.

I did actually start responding by saying about their retirement funds (i.e. houses, stock market i.e pensions etc) and also that boomers range from 50-60 year olds, not just 60 as he has highlighted. But I figured theres not much point.

purch

Even MSE are ramping a "could stay" into "to stay"

It's not ramping.

The only reason that the base rate will stay at 1/2 % is cos we are up to our necks in the brown stuff :eek:

skaps

Typical im on a fixed rate till oct 2011 and thats when the rates will increase. How annoying!!!!!

Pincher

skaps wrote: »

Typical im on a fixed rate till oct 2011 and thats when the rates will increase. How annoying!!!!!

Mervyn King is a darling.

My 4.99% 5 year fixed finished on 30th September 2008,
and the lender had sent me a letter saying I would be paying BOE+1.75% from then on , so I called the gov'nor, and he dropped the rate on October 4th 2008 as a personal favour to me. The other masons heard about it, and they all wanted a rate cut as well. He had to do it slowly so it's not too obvious, but by March 2009 it was all sorted.
What a pal, will do anything for a pint. :beer:

Unlike the scheming lender, who only applied the reduced rate in November 2008, so I actually paid 6.75% in October 2008.:mad:

Buy him a beer in October 2011. Oh, and don't forget the secret handshake!:D

BTW, don't tell anyone, or the you know who will do you know what to you.:rotfl:

vaporate

I couldn't give a rats !!!! about housing prices, deposit for a house.

Neither are within my grasp. best deal is to either joint share a house with 2 or 3 people on the mortgage or nothing.

Saving rates are crap also. managed to change my Cash ISA to a E-ISA though from a rate of 0.5% to now 2%.

vaporate

wizk1 wrote: »

And for graduates paying back their loans :mad:

Forget about paying it back. Foolish. Most graduates should have around 28k loan. 4k a year for accommodation and 3k and a half per year for tuition fees plus maintenance loan.

Good thing the loan is income assessed lol. That and written off at age 65 or after 25 years.